Former Cambridge tech chief plans start-up
Cambridge Technology Partners' former chief is quietly planning to launch a start-up focused on the Net.
Sources say Cambridge Tech cofounder and former CEO Jim Sims, who left the Cambridge-based consultancy and systems integrator in July, is working on a start-up with Michael Tracey, head of Tracey & Company, a small Boston-based consulting firm. The two are reportedly gearing up to launch a new e-services firm.
Tracey declined to offer further details of the venture except to say there has been some discussions between he and Sims, and a new company launch may happen in just a few weeks. Sims could not be reached for comment.
Sources say Sims bought a majority stake in Tracey & Company and is currently recruiting for the new firm, filling in his senior management team with other former executives from Cambridge Technology Partners.
When Sims left Cambridge four months ago, after spending eight years at the firm, he said he planned to work on more "entrepreneurial endeavors" and "take time off to create another company."
In recent months, Cambridge has been the subject of acquisition rumors, as the company's stock waned amid struggles with a reorganization and ongoing failure to meet Wall Street's financial expectations.
Cofounders and top-level executives have since left the firm. Just last week, Cambridge announced chief financial officer and longtime executive Arthur Toscanini's resignation.
Many other top executives have also left to pursue careers with new Internet services start-ups. A month ago, former CTP exec and cofounder Malcolm Frank resurfaced with a new Internet services firm called NerveWire. Ex-CTP president Bob Gett now runs Viant, while former Cambridge executive vice president Bill Seibel is chief of start-up Zefer and Gordon Brooks now heads Breakaway Solutions.